Economy

Demeter

(85,373 posts)

20. François Hollande targets tax evasion as approval ratings plummet

Mon Apr 22, 2013, 09:53 PM

Apr 2013

http://www.guardian.co.uk/world/2013/apr/10/francois-hollande-tax-evasion

France is to create a new agency to fight financial fraud and force its banks to detail activities in tax havens, in a bid to clamp down on tax evasion and corruption after the disgraced budget minister confessed to hiding money in a secret foreign bank account...Cahuzac, who until last month headed the Socialists' crackdown on tax evasion, has been charged with laundering the proceeds of tax fraud...

...The measures include the appointment of a special prosecutor dedicated to financial crimes, corruption and fraud. He also promised that banks would be made to release annual lists of their international affiliates, country by country, in order to stamp out use of tax havens.

"In other words, it won't be possible for a bank to hide transactions carried out in a tax haven," he said. "Tax havens have to be eliminated in Europe and around the world."

...A list of banned professions for MPs will be drawn up, to prevent conflicts of interest. "For the sake of the French people, we aim to ensure that those who govern them, those they have elected … are not getting richer in the course of their mandate," Hollande said.

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